Summary Review: The European Banking Authority (EBA) has issued new guidelines for payment service providers (PSPs) and crypto-asset service providers (CASPs), detailing how they should ensure compliance with EU sanctions when transferring funds or crypto. The guidelines will take effect from December 2025.
The European Banking Authority (EBA) has published new guidelines that outline how payment service providers (PSPs) and crypto-asset service providers (CASPs) should comply with the European Union’s restrictive measures, such as sanctions, when transferring funds or cryptocurrencies.
Released on November 14, the guidelines specify that PSPs and CASPs must implement reliable screening systems to ensure they follow EU and national sanctions regulations. The aim is to prevent the circumvention of these sanctions and ensure the stability and security of the EU financial system. The guidelines also focus on managing operational and legal risks for financial institutions by improving internal policies, procedures, and controls.
The EBA highlighted that weaknesses in these areas could undermine the effectiveness of the EU’s sanctions, potentially allowing individuals or entities to bypass the rules. The guidelines will come into force on December 30, 2025, and will apply to all PSPs and CASPs involved in fund or crypto transfers within the EU. Providers must take steps to screen transaction data and manage risks related to users attempting to evade EU sanctions.
Summary Review: The European Banking Authority (EBA) has issued new guidelines for payment service providers (PSPs) and crypto-asset service providers (CASPs), detailing how they should ensure compliance with EU sanctions when transferring funds or crypto. The guidelines will take effect from December 2025.
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